16904 Pickwick Ln #307 · Halfway, MD 21740

$84,900

3 bd · 2.0 ba · 1,400 sqft · SingleFamily · 113 Days on market

Built 1997 Good condition $61/sqft · 9% above area Est $78k · 9% over ↓ 29% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• ARV discount +3.6/15.0
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE IMPROVEMENT! Beautifully Renovated Double Wide in Sought After Lakeside Village Mobile Home Community! Over 1400 Square Feet of Finished Living Space with Updates Including New Architectural Shingle Roof, New HVAC System, New Waterproof Pergo Flooring Throughout Main Area, Kitchen and Bathrooms, Freshly Painted Kitchen Cabinets with New Hardware, Updated Stainless Steel Appliances in Kitchen, New Skylight, New Light Fixtures, New Ceiling Fan and New Paint Throughout. Inside Features Large Living Room, Separate Formal Dining Room, Big Primary Bedroom with Private Bathroom, New Garden Soaking Tub and Walkin Closet. Outside is Nicely Landscaped with a Front and Back Porch, Paver Walkways and a Paver Patio Perfect for Grilling. Community Perks Include a Swimming Pool, Fitness Center and Community Club Room Available to Rent for Family Functions or Parties. Easy Access to 71 and 70. Close to Shopping, Restaurants and Downtown. Don't Delay, this one won't Last!

Key facts

• New light fixtures
• New skylight
• New hvac system

Tags

• RENOVATED DOUBLE WIDE
• NEW ARCHITECTURAL SHINGLE ROOF
• NEW HVAC SYSTEM
• NEW WATERPROOF PERGO FLOORING
• NEW SKYLIGHT
• NEW LIGHT FIXTURES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $85k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $781 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.3% vs local median 4.8% in Halfway — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#225 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment A-; Watch: schools C-, crime F, amenities F.
• Washingtion County Public Schools (suburban): math 18% / reading 33% proficiency, ranked #13 of 24 in MD (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.0%/yr); 368 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 232 units permitted in Washington County in 2024 (12 in 5+ unit buildings).
• This rent runs 33% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $77,259 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.04% ✓
• Cap rate: 17.33%
• Cash-on-cash: 39.44%
• DSCR: 2.75
• GRM: 4.1

CMA / ARV

• ARV (median comp): $78,148
• List price: $84,900
• Delta: 8.64%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16810 Alcott Rd	0.24mi	3/2.0	1,400 (0%)	4mo	$75,000	$54	85
11125 Lakeside Dr	0.20mi	3/2.0	1,300 (-7%)	1mo	$130,000	$100	78
16903 Harbinger Ct	0.15mi	3/2.0	1,400 (0%)	20mo	$100,000	$71	77
16804 Longfellow Ct #652	0.32mi	3/2.0	1,493 (+7%)	2mo	$74,000	$50	72
16935 Alcott Rd	0.07mi	4/2.0 (+1)	1,600 (+14%)	2mo	$66,046	$41	66
16814 Longfellow Ct	0.31mi	3/2.0	1,493 (+7%)	21mo	$80,000	$54	57
16815 Longfellow Ct #643	0.29mi	3/2.0	1,500 (+7%)	21mo	$89,000	$59	57
16928 Longfellow Ct #608	0.19mi	3/2.0	1,250 (-11%)	21mo	$90,000	$72	56
11015 Beckley Rd	0.66mi	2/1.0 (-1)	1,438 (+3%)	7mo	$228,000	$159	50
16816 Longfellow Ct #658	0.31mi	3/2.0	1,600 (+14%)	18mo	$92,500	$58	47
16722 Custer Ct	0.74mi	3/2.0	1,548 (+11%)	6mo	$321,600	$208	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.0% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 2.59×
• Total profit: $37,785
• Equity at exit: $12,659

10-year hold

• IRR: 44.0%
• Equity multiple: 5.39×
• Total profit: $104,447
• Equity at exit: $7,341

Cash invested: $23,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21740

• Rents YoY: 4.0%
• Active inventory: 368
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,732 medium
• Mortgage (P&I): −$445
• Tax est. 1.5%: −$106 /mo · $1,274/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $781

Break-even live

Break-even rent $743

Max offer price $84,900

Occupancy floor 50%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10924 Gaywood Dr Hagerstown, MD	3.0	1.0	1100	$2,000	$1.82	21d	1	1.41mi

Listing history 21 events

1. 2026-06-18
   days on market $84,900 Active 113 DOM
2. 2026-06-17
   days on market $84,900 Active 112 DOM
3. 2026-06-16
   days on market $84,900 Active 111 DOM
4. 2026-06-15
   days on market $84,900 Active 110 DOM
5. 2026-06-14
   days on market $84,900 Active 108 DOM
6. 2026-06-13
   days on market $84,900 Active 107 DOM
7. 2026-06-10
   days on market $84,900 Active 105 DOM
8. 2026-06-09
   days on market $84,900 Active 104 DOM
9. 2026-06-08
   days on market $84,900 Active 103 DOM
10. 2026-06-07
    days on market $84,900 Active 102 DOM
11. 2026-06-03
    days on market $84,900 Active 98 DOM
12. 2026-06-02
    days on market $84,900 Active 97 DOM
13. 2026-06-01
    days on market $84,900 Active 96 DOM
14. 2026-05-31
    days on market $84,900 Active 95 DOM
15. 2026-05-30
    days on market $84,900 Active 94 DOM
16. 2026-04-21
    price $84,900 975-char remark

    Show marketing remark (975 chars)

    PRICE IMPROVEMENT! Beautifully Renovated Double Wide in Sought After Lakeside Village Mobile Home Community! Over 1400 Square Feet of Finished Living Space with Updates Including New Architectural Shingle Roof, New HVAC System, New Waterproof Pergo Flooring Throughout Main Area, Kitchen and Bathrooms, Freshly Painted Kitchen Cabinets with New Hardware, Updated Stainless Steel Appliances in Kitchen, New Skylight, New Light Fixtures, New Ceiling Fan and New Paint Throughout. Inside Features Large Living Room, Separate Formal Dining Room, Big Primary Bedroom with Private Bathroom, New Garden Soaking Tub and Walkin Closet. Outside is Nicely Landscaped with a Front and Back Porch, Paver Walkways and a Paver Patio Perfect for Grilling. Community Perks Include a Swimming Pool, Fitness Center and Community Club Room Available to Rent for Family Functions or Parties. Easy Access to 71 and 70. Close to Shopping, Restaurants and Downtown. Don't Delay, this one won't Last!

17. 2026-02-28
    price $99,900 975-char remark

    Show marketing remark (975 chars)

    PRICE IMPROVEMENT! Beautifully Renovated Double Wide in Sought After Lakeside Village Mobile Home Community! Over 1400 Square Feet of Finished Living Space with Updates Including New Architectural Shingle Roof, New HVAC System, New Waterproof Pergo Flooring Throughout Main Area, Kitchen and Bathrooms, Freshly Painted Kitchen Cabinets with New Hardware, Updated Stainless Steel Appliances in Kitchen, New Skylight, New Light Fixtures, New Ceiling Fan and New Paint Throughout. Inside Features Large Living Room, Separate Formal Dining Room, Big Primary Bedroom with Private Bathroom, New Garden Soaking Tub and Walkin Closet. Outside is Nicely Landscaped with a Front and Back Porch, Paver Walkways and a Paver Patio Perfect for Grilling. Community Perks Include a Swimming Pool, Fitness Center and Community Club Room Available to Rent for Family Functions or Parties. Easy Access to 71 and 70. Close to Shopping, Restaurants and Downtown. Don't Delay, this one won't Last!

18. 2026-02-25
    listed $109,900 Active 975-char remark

    Show marketing remark (975 chars)

    PRICE IMPROVEMENT! Beautifully Renovated Double Wide in Sought After Lakeside Village Mobile Home Community! Over 1400 Square Feet of Finished Living Space with Updates Including New Architectural Shingle Roof, New HVAC System, New Waterproof Pergo Flooring Throughout Main Area, Kitchen and Bathrooms, Freshly Painted Kitchen Cabinets with New Hardware, Updated Stainless Steel Appliances in Kitchen, New Skylight, New Light Fixtures, New Ceiling Fan and New Paint Throughout. Inside Features Large Living Room, Separate Formal Dining Room, Big Primary Bedroom with Private Bathroom, New Garden Soaking Tub and Walkin Closet. Outside is Nicely Landscaped with a Front and Back Porch, Paver Walkways and a Paver Patio Perfect for Grilling. Community Perks Include a Swimming Pool, Fitness Center and Community Club Room Available to Rent for Family Functions or Parties. Easy Access to 71 and 70. Close to Shopping, Restaurants and Downtown. Don't Delay, this one won't Last!

19. 2026-02-24
    historical
20. 2025-09-24
    price $109,900
21. 2025-08-27
    listed $119,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,779
• − Mortgage interest: −$4,756
• − Property taxes: −$1,274
• − Insurance: −$424
• − Repairs & maintenance: −$1,662
• − Management: −$1,662
• − Depreciation: −$2,470
• Taxable income: $8,531
• Est. tax owed @ 24.0%: −$2,047
• After-tax cash flow: $7,327/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This beautifully renovated double-wide mobile home is move-in ready with new updates throughout, including a new roof, HVAC system, and flooring. It offers a good condition score and is ready for immediate occupancy.

Value-add opportunities

• Both Landscaping and curb appeal — Enhances curb appeal and property value
• Both Painting exterior — Fresh paint improves curb appeal and property value
• Both Landscaping and walkways — Improves curb appeal and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal — Enhances curb appeal and property value ↑
• Both Painting exterior — Fresh paint improves curb appeal and property value ↑
• Both Landscaping and walkways — Improves curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Washingtion County Public Schools
• NCES district ID: 2400660
• Math proficiency: 18% ▼ -20.00%
• Reading proficiency: 33% ▼ -17.00%
• Median HH income: $54,784
• Composite: 22.87/100
• National rank: #8007
• State rank: #13 of 24 in MD

Livability — Halfway

• Score: 66/100
• State rank: #225
• US rank: #11296

Category grades

Amenities F Commute F Cost of living A Crime F Employment A- Housing A+ Health & safety B+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Halfway, MD
• County: Washington County · 98,861 people
• Metro: Hagerstown-Martinsburg, MD-WV
• Population (ZIP): 64,792
• Household income: $62,873
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 2832.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 151,614 people
• By 2030: 151,455 · -0.1%
• By 2040: 150,097 · -1.0%
• By 2050: 148,193 · -2.3%
• By 2075: 146,581 · -3.3%
• By 2100: 138,025 · -9.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 18% Two or more races 10% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · Spanish 9% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+23.0) · D 37.3% · R 60.4% · Other 2.3%
• 2008→2024 swing: -10.2pp toward R · 2008: -12.9pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+20.9 2016: R+32.4 2012: R+18.5 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -248.38%
• Current HPI: 264.8018
• Rent YoY: ▲ 4.00%
• Metro: Hagerstown-Martinsburg, MD-WV
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

-29.2% since first listed

6 events — show timeline

• 2026-04-21 Price Changed $84,900 BRIGHT MLS
• 2026-02-28 Price Changed $99,900 BRIGHT MLS
• 2026-02-25 Listed $109,900 BRIGHT MLS
• 2026-02-24 Listing Removed — BRIGHT MLS
• 2025-09-24 Price Changed $109,900 BRIGHT MLS
• 2025-08-27 Listed $119,900 BRIGHT MLS